Crypto Market Overview

• BTC (+0.41% | Current Price: 111,184 USDT): After a volatile climb, BTC briefly touched a high of $112,800 before pulling back, now trading around $111,000. The sharp rise and retracement highlight strong overhead resistance. If BTC fails to quickly reclaim $111,600, further downside pressure is likely, with $111,070 as key support. On Sept. 8, BTC ETFs saw net inflows of $255 million, including $156 million into Fidelity’s FBTC and notable inflows into BlackRock’s IBIT, underscoring continued institutional accumulation of Bitcoin.
• ETH (+0.01% | Current Price: 4,283 USDT): ETH surged to $4,374 before facing resistance, retreating to around $4,275. Selling pressure remains evident; failure to reclaim $4,320 could lead to further weakness, with $4,260 as near-term support. On Sept. 8, ETH ETFs recorded $96.7 million in net outflows, led by a $192 million outflow from BlackRock’s ETHA, partially offset by inflows into Fidelity’s FETH.
• Altcoins: Most major altcoins posted modest gains, with sentiment ranging from “neutral” to “buy.” The Fear & Greed Index sits at 48, within the normal range but down slightly from yesterday.
• Macro: On Sept. 8, the S&P 500 gained 0.21% to 6,495.15, the Dow Jones rose 0.25% to 45,514.95, and the Nasdaq advanced 0.45% to 21,798.70. As of Sept. 9, 10:50 AM (UTC+8), spot gold trades at $3,654 per ounce, up 0.45% in 24 hours.

Trending Tokens

MYX – MYX Finance (+238.71% | Circulating Market Cap: $1.59B)

According to Gate market data, the MYX token is currently quoted at $12.82, up about 238.71% in 24 hours. The protocol was launched to reduce the capital cost of providing liquidity, eliminate network-related barriers for traders, and simplify trading processes, making advanced derivatives as accessible as spot swaps.

Yesterday, MYX experienced a sharp surge, mainly due to the concentrated release of multiple positive catalysts. First, the project announced the upcoming launch of its V2 upgrade, which introduces zero-slippage trading and cross-chain support, significantly improving liquidity and visibility, attracting large amounts of capital inflows. Second, the rapid market uptrend triggered a short squeeze, with a large number of short positions being forcibly liquidated in a short period of time, further driving concentrated buying and accelerating the price increase. In addition, trading volume and perpetual contract open interest surged sharply in a short period, showing heightened speculative sentiment in the market, but also sparking concerns about potential manipulation, especially with a large token unlock approaching.

OPEN – Openledger (+155.51% | Circulating Market Cap: $30.69M)

According to Gate market data, the OPEN token is currently quoted at $1.42, up 155.51% in 24 hours. OpenLedger is an artificial intelligence blockchain designed to unlock liquidity and monetize data, models, applications, and agents. It supports the training, deployment, and on-chain tracking of professional AI models and data, addressing key challenges of transparency, attribution, and verifiability in the AI field.

The reason for this rally is that the project announced a large-scale airdrop for early users, which quickly ignited market enthusiasm and attracted a flood of capital inflows. At the same time, OPEN added support scenarios on multiple platforms, covering yield, trading, leverage, and derivatives, significantly enhancing the token’s liquidity and practical use value. This not only expanded investor imagination regarding its future ecosystem development but also provided positive expectations for its medium- to long-term growth. Under the effect of these dual positives, concentrated buying broke out in the market, driving the price to rise sharply.

WLD – WorldCoin (+50.66% | Circulating Market Cap: $3.5B)

According to Gate market data, the WLD token is currently quoted at $1.73, up about 50.66% in 24 hours. Worldcoin (WLD), led by OpenAI co-founder Sam Altman, is a crypto project whose core concept is to establish a unique digital identity (World ID) for global users through “iris recognition + cryptocurrency,” with WLD tokens distributed as incentives. Its aim is to help everyone enter the global economy.

The core reason for the recent rise of WLD is that Eightco Holdings launched the first Worldcoin treasury strategy and completed a $250 million private placement. This move not only received support from well-known institutions such as Discovery Capital and Pantera, but also introduced a $20 million investment from BitMine, marking WLD’s gradual entry into the scope of institutional asset allocation. The funds will be used to acquire WLD, supplemented with Ethereum and cash as reserves, thereby setting a new paradigm in digital asset treasury management. After the announcement, WLD’s trading volume surged nearly 400% in 24 hours, and its price jumped more than 50%, sparking strong market attention.

Alpha Insights

Grayscale Plans to Apply for the First Chainlink ETF

On September 8, 2025, Grayscale submitted an application to the U.S. Securities and Exchange Commission (SEC) to convert its existing Chainlink Trust into a spot exchange-traded fund (ETF), with the proposed ticker GLNK. If approved, the fund will trade on NYSE Arca, becoming the first crypto ETF linked to Chainlink. According to the filing, the GLNK ETF will process share creations and redemptions in cash and may include a staking feature, with LINK tokens held in custody through third-party providers and staking rewards earned. In the future, these rewards may be retained, distributed to shareholders, or sold to cover expenses, providing investors with potential additional yield.

Currently, the Grayscale Chainlink Trust manages approximately $29 million in assets, custodied by Coinbase Custody Trust Company. This application is part of Grayscale’s broader strategy to convert multiple single-asset crypto trusts into ETFs, with other pending proposals including funds tied to Solana, Dogecoin, and XRP. Stimulated by this news, the LINK token rose about 3% in 24 hours, while other major altcoins such as XRP, SOL, and DOGE also posted gains. If approved, the GLNK ETF would provide traditional investors with a regulated channel to participate in the Chainlink ecosystem and could become the first U.S. crypto ETF to include staking rewards.

CleanCore Significantly Increases Dogecoin Holdings, Establishes Largest Corporate Treasury

CleanCore Solutions (ZONE) announced that it has purchased 285.4 million Dogecoins, valued at about $68 million, and established a dedicated treasury in cooperation with the Dogecoin Foundation’s House of Doge. The company revealed that it will continue to increase its holdings over the next month, targeting a total position of 1 billion tokens, thus becoming the largest corporate Dogecoin treasury holder globally.

This news quickly ignited market sentiment. CleanCore’s stock closed at $3.51 on Monday and then surged 40% after hours, lifting its market cap to about $500 million. At the same time, Dogecoin (DOGE) also strengthened, rising about 7% to $0.24, with a total market capitalization exceeding $36 billion, ranking seventh among cryptocurrencies.

Kazakhstan President Tokayev Proposes Establishing a National Digital Asset Fund

On September 8, 2025, Kazakhstan President Kassym-Jomart Tokayev announced during his annual state-of-the-nation address that a series of economic and financial reforms would be implemented to accelerate the construction of a national digital asset ecosystem and attract high-tech investment. He proposed establishing a technology investment program worth up to $1 billion to promote technological innovation and industrial upgrading. Digital transformation was also a highlight of the speech. Tokayev proposed establishing a National Digital Asset Fund within the framework of the National Bank’s investment corporation to accumulate strategic reserves of cryptocurrencies and other digital assets. At the same time, he stressed the importance of strengthening cybersecurity measures during development, to cope with the rising threat of online fraud and financial crime.


References

• Gate, https://www.gate.com/trade/BTC_USDT](https://www.gate.io/trade/BTC_USDT)](https://www.gate.com/trade/BTC_USDT)
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices](https://investing.com/indices/usa-indices)](https://investing.com/indices/usa-indices)
• Investing, https://investing.com/currencies/xau-usd](https://investing.com/currencies/xau-usd)](https://investing.com/currencies/xau-usd)
• CoinGecko, https://www.coingecko.com/categories](https://www.coingecko.com/categories)](https://www.coingecko.com/categories)
• Coindesk, https://www.coindesk.com/markets/2025/09/08/chainlink-jumps-as-grayscale-files-for-first-ever-u-s-chainlink-etf
• Odaily, https://www.odaily.news/zh-CN/newsflash/447170
• Panews, https://www.panewslab.com/zh/articles/7f17fcfe-713c-4521-ad5d-8ef89ce033e0

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Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.